By Svea Herbst-Bayliss NEW YORK (Reuters) -The New York City Retirement System plans to vote in support Walt Disney CEO Bob Iger and the company’s board, rejecting the nominees of two hedge funds, including Nelson Peltz’s Trian, in a bruising boardroom battle. The retirement system, a Disney shareholder, said the entertainment giant should get more …
WASHINGTON (Reuters) – White House National Economic Adviser Lael Brainard said on Thursday corporate profits remain elevated, after U.S. consumer sentiment rose unexpectedly in March to the highest in nearly three years on hopes inflation will keep softening. Brainard said the Biden administration still has work to do to lower costs – a high priority …
White House’s Brainard says corporate profits remain elevated Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -The S&P 500 closed out the week with slight gains on Thursday, with the benchmark index notching its strongest first quarter in five years, as investors digested the latest batch of economic data while looking towards the next inflation reading. Each of the three main U.S. indexes recorded solid …
S&P 500 closes higher to secure strongest Q1 since 2019 Read More »
By David Shepardson (Reuters) – The White House said Thursday it is requiring federal agencies using artificial intelligence to adopt “concrete safeguards” by Dec. 1 to protect Americans’ rights and ensure safety as the government expands AI use in a wide range of applications. The Office of Management and Budget issued a directive to federal …
US requiring new AI safeguards for government use, transparency Read More »
(Reuters) – Treasury Wine Estates will resume the distribution of some of its products in China, it said on Thursday, after the Chinese Ministry of Commerce said it would remove tariffs on Australian wine imports from March 29. Treasury Wine will use partnerships with customers in China to distribute its Penfolds entry-level Australian origin portfolio …
Treasury Wine to resume distribution in China after import tariffs end Read More »
(Reuters) -U.S. insurer UnitedHealth Group on Wednesday said it has advanced more than $3.3 billion so far to care providers impacted by a cyberattack last month on insurance claims system Change Healthcare. UnitedHealth said it has paid more than 40% of that total to so-called safety net hospitals and federally qualified health centers serving high-risk …
UnitedHealth Group paid over $3.3 billion to care providers hit by cyberattacks Read More »
(Reuters) – Amazon.com Inc said on Wednesday its senior employees, whose compensation includes more stock-related awards than cash, may not receive a cash pay raise this year. “For this year’s compensation cycle, we are prioritizing cash base pay increases for employees whose compensation is weighted more heavily in base pay as opposed to stock,” an …
Amazon’s senior employees may not get a cash pay raise this year Read More »
(Reuters) -Discover Financial Services said on Wednesday its CEO Michael Rhodes will step down from his role, effective April 1, three months after he joined the credit card issuer. Rhodes will serve as an advisor to Discover’s interim CEO J. Michael Shepherd through April 12, and will take over the helm as Ally Financial’s top …
Discover Financial says CEO Michael Rhodes will step down after brief stint Read More »
(Reuters) -Walmart has notified two U.S. antitrust agencies it will withdraw and refile a certain review application for its planned acquisition of Vizio, to give the regulators more time to review the deal. Following informal discussions with the Federal Trade Commission and the Department of Justice, Walmart’s Hart-Scott-Rodino notification and report form was withdrawn effective …
Vizio says Walmart to refile antitrust review application for merger Read More »
(Reuters) – Ally Financial said on Wednesday that Michael Rhodes will take over as chief executive officer of the company from April 29. Rhodes, who most recently served as the CEO of Discover Financial Services <DFS.N>, has previously worked at Bank of America and TD Bank in his career spanning 25 years across retail and …
